hdr-matamata

I found and posted a similar article a few days ago on French Guyane - Matamata.
This one is from Interactive Investor, dated 15th,Feb,2005.
Web Site...........
http://www.iii.co.uk/shares/?type=tip&tip=0025

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Stock ideas from t1ps.com

Produced exclusively for Interactive Investor by t1ps.com

Tom Winnifrith from t1ps.com.com on Northern Petroleum.

(These recommendations do not constitute advice, please read the risk warnings.)

Suggests Tom Winnifrith of t1ps.com

I first tipped Northern Petroleum (NOP) a couple of years ago on www.t1ps.com when its shares stood at 2.75p. Initially I looked like a right charlie as they drifted back towards 2p. But the fundamentals were right so while some ignored my advice and implemented a stop loss strategy others simply bought more. Today the shares now trade at 10.75p - more than 1 in 6 of my tips have doubled or more and Northern is one of my top tips over the past four years.


For long term investors on t1ps.com the stance is now "hold", I am not urging them to buy more. But for short term traders looking for a Christmas punt, Northern is ideal.


The Valuation and the Assets

At 10.75p Northern is capitalised at 32 million pounds and it has a number of really very interesting assets.


Then there is Spain, where Northern is generating cash but also has exploration upside. I'd value Spain at 2 million pounds but I am lead to believe that it is working on a farm-out deal which could crystallise the value of its Spanish assets at a number significantly greater than that. Then there is Guyane (French Guyana to you and me) where Northern holds a 1.25% stake in some offshore acreage where Hardman Resources has a 97.5% stake and is operator. The acreage contains six prospects which, according to old 2D seismic data from the seventies, could be very large indeed. Plausibly the lead prospect alone (it is called Matamata) could hold 30 million barrels net to Northern. Now, old 2D seismic is not very reliable, so let's give this a 1 in 10 risk weighting and ignore the other 5 leads altogether. That still values Northern's interest at, at least, 3 million pounds.